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[rolo7] 08/3/2016 14:03

10th march trading statement for q4

[spob] 08/3/2016 13:59

Well I may be wrong about the date

but I know for certain that homebase money is to be paid out regardless of any takeover

[leadersoffice] 08/3/2016 13:31

No date has been given for the return of cash from the sale of Homebase.
Although the sale was completed on 27th Feb, we are waiting for further details on this.

[spob] 08/3/2016 13:21

Homebase money is to be paid regardless of the takeover going ahead

and i think a date has been given

[leadersoffice] 08/3/2016 13:18

No final date has been given. I would think it will be included if and when the takeover goes ahead. If takeover collapses, probably include it with the final divi date. We may get some indication this Thursday as Home Retail Group are releasing a trading statement to cover the last eight weeks trading of the current financial year.

[oldvic] 08/3/2016 13:16

yes
you have to get in the queue
look up on the screen and wait for ticket number to appear at collection point

[imperial3] 08/3/2016 11:53

Any one know when the payment will be made to shareholders from the sale of Homebase?

[leadersoffice] 06/3/2016 16:37

By Ashley Armstrong
5 MARCH 2016 • 8:37PM
Sainsbury’s and South Africa’s Steinhoff are locked in a game of chicken as they finalise rival bids for Argos, in a tussle that has proved to be an unprecedented case for UK Takeover Panel.

Sainsbury’s and Steinhoff have been handed a strict deadline of February 18 to submit firm bids for Argos, having both previously indicated that they were weighing offers. However, under a quirk of the takeover rules, whichever company bids first triggers an automatic 53 day extension for the rival suitor.

With both sides working to the same deadline it is a “case of who blinks first”, one source said. Sainsbury’s plans to strengthen its online presence with a £1.3bn Argos takeover were thrown into doubt after Steinhoff made a £111m higher proposal.

The Takeover Panel is understood to be keen to ensure that both sides do not abandon their pursuit of Home Retail Group, Argos’ owner, just because of its rules. Sainsbury’s is expected to raise its offer from 161.3p-a-share to around 180p, which would take it above Steinhoff’s 175p-a-share cash proposal.

Sainsbury’s chief executive Mike Coupe has insisted that the supermarket will not overpay for Argos.

However, analysts believe that Sainsbury’s would be able to achieve more synergies than the £120m it has already forecast, which would enable it to sweeten its bid.

The supermarket will extract the bulk of its synergies from closing down the majority of Argos high street shops and shifting them into click and collect counters inside its supermarkets.

Sainsbury’s has already been warned by some of its shareholders against overpaying for Argos.

Steinhoff, which is offering £1.4bn in is understood to have tracked Home Retail for the past nine months but was biding its time while it finalised a secondary listing in Frankfurt at the end of last year.

Sources close to the company point to its significantly larger £20bn market value compared to Sainsbury’s £5bn valuation as evidence suggest it can easily outbid Sainsbury’s in any bidding war.

The South African company last week also gatecrashed Fnac’s planned takeover of Darty.

[imperial3] 03/3/2016 10:25

Treading water until further news.

[fizzypop] 03/3/2016 10:12

This is like watching paint dry.

[fizzypop] 02/3/2016 08:36

Up 2% at 181p this morning - perhaps a revised bid coming?

[jonny33] 01/3/2016 10:31

I read yesterday that Morrisons have made a tie up with Amazon, so there are strategic moves taking place.

[leadersoffice] 01/3/2016 08:19

Definitely.

A lot of pressure here rests on Sainsbury's board members to pull something concrete out of the bag that can cement its long term future as well as its position out there as one of the top quality food retailers.
Not to say Argos can sit back either but if all else fails... They would need to carry on with its own restructuring

[oldvic] 01/3/2016 08:01

yes
and
yes

[yvonne] 01/3/2016 07:47

Morning everybody, Does anybody have an opinion on whether the Morrisons tie up with Amazon might make Sainsbury more determined to buy Home retail?

[imperial3] 29/2/2016 11:55

In the final analysis,I must admit cash is far better,than shares.If the offer is more shares,then you have to consider the outlook for the Sainsbury share price.If you believe they will reach 300p,then yes,the share price option is favourable.If you think that the share price will fall back below 250p to say 200p,then it is an open and shut case for cash.In this environment,I prefer the cash element.Just my view.

[spob] 29/2/2016 11:13

Yeah maybe

But if Sainsbury comes back with 185 I doubt it will be all cash

So that means hedging required plus a longish wait for an extra 9p

I'm just weighing up the risk versus reward and also the time factor

[imperial3] 29/2/2016 11:10

Can't see Mike Coupe doing nothing.He will make one more improved final offer-take it,or leave it imv.

[dins1249] 29/2/2016 10:42

Spob -Never bad thing to take profit but I think you rushed it and have missed out on at least another 10p.

[fizzypop] 29/2/2016 08:22

RNS Homebase sale completed 27 Feb.

[spob] 29/2/2016 08:10

Closed all of my arb positions in HOME this morn

Made a very good turn

Happy to exit above 175p


I'll be surprised if Sainsbury puts in a higher offer

But you never know, they just might

[leadersoffice] 28/2/2016 02:48

Continued:City sources said Sainsbury's could struggle to win over shareholders if it was forced to raise its offer beyond 185p.It is understood that no firm decisions have yet been made on its bid strategy. Neither offer has yet been made formal.Steinhoff has the approval of its biggest shareholder, South African billionaire Christo Wiese, who last year embarked on a frenzy of acquisitions in the UK.He used his investment vehicle Brait to snap up fashion chain New Look and Virgin Active gyms. Wiese also raised his stake in supermarket Iceland.Steinhoff has operations in 30 countries and owns retail chains in Australia, South Africa and continental Europe as well as the UK furniture chain Harveys.

[leadersoffice] 28/2/2016 02:41

Sainsbury's may raise bid in battle for Argos after attempted swoop by South African conglomerate SteinhoffBy Neil Craven for The Mail on Sunday22:01 27 Feb 2016, updated 22:01 27 Feb 2016Supermarket giant Sainsbury's is mulling a higher offer for Argos in the wake of an attempted swoop by a South African conglomerate.In an announcement released just days before the deadline for a final bid, retail group Steinhoff said it could offer £1.4billion – or 175p a share – for Argos-owner Home Retail.Both firms are now engaged in due diligence after the deadline was extended from February 23 to March 18 in line with the Steinhoff timetable.he board of Sainsbury's and its advisers are understood to be using the extra time to review the £120million annual cost savings that shareholders have been told it could make from a tie-up.Sainsbury's has bid £1.3billion – about 165p per share – and informed shareholders that the acquisition would accelerate its strategy by up to three years. But it has also made clear that it will not overpay.